18 Oct 08
1 edit
House Democrats are contemplating abolishing 401K tax breaks.
http://investmentnews.com/apps/pbcs.dll/article?AID=/20081012/REG/310139971
Apparently, they are using the excuse that the Stock Market is too risky a place to place retirement savings due to recent events. They are proposing that workers would be REQUIRED to invest 5% of their pay into a guaranteed retirement account administered by the Social Security Administration. The money in turn would pay 3% a year, adjusted for inflation. The current system of providing tax breaks on 401K contributions would be eliminated.
Discuss.
18 Oct 08
Originally posted by whodeyIt'll never happen. You'd have an armed revolt in the middle class. Right now the 401k is the only ray of hope for the average middle class worker. Nobody believes that social security will be there for the long haul. It's been bankrupt for years. And corporate pensions have long since been raided, demolished, and defunct. 401k's are all that is left (except for the IRA's which have such ridiculously low contribution limits that they're not even worth considering).
House Democrats are contemplating abolishing 401K tax breaks.
http://investmentnews.com/apps/pbcs.dll/article?AID=/20081012/REG/310139971
Apparently, they are using the excuse that the Stock Market is too risky a place to place retirement savings due to recent events. They are proposing that workers would be REQUIRED to invest 5% of their pay into a gu ...[text shortened]... he current system of providing tax breaks on 401K contributions would be eliminated.
Discuss.
And the proposed replacement is a complete joke--forcing everybody into a government run "retirement account" that pays less than inflation--and would be raided and stuffed full of IOU's like the social security system.
18 Oct 08
Originally posted by whodeyReading your posts and looking for any amount of truth is like sifting through moon dust trying to find a fully formed diamond. Nothing in the article supports the assertion that House Democrats support the idea that "workers would be REQUIRED to invest 5% of their pay into a guaranteed retirement account administered by the Social Security Administration"; that proposal was made by one college professor.
House Democrats are contemplating abolishing 401K tax breaks.
http://investmentnews.com/apps/pbcs.dll/article?AID=/20081012/REG/310139971
Apparently, they are using the excuse that the Stock Market is too risky a place to place retirement savings due to recent events. They are proposing that workers would be REQUIRED to invest 5% of their pay into a gu ...[text shortened]... he current system of providing tax breaks on 401K contributions would be eliminated.
Discuss.
I know you are a Republican shill, but don't you ever get sick of lying? There must be a little bit of common decency in you; why not use it?
18 Oct 08
1 edit
Originally posted by no1marauderWell I have to say that it is refreshing to see liberals like yourself be repulsed by the proposal. As for how much support it will have, only time will tell. The fact is, is that the dems are about to gain all three houses of government and the Dems are the ones proposing this rubbish.
Reading your posts and looking for any amount of truth is like sifting through moon dust trying to find a fully formed diamond. Nothing in the article supports the assertion that House Democrats support the idea that "workers would be REQUIRED to invest 5% of their pay into a guaranteed retirement account administered by the Social Security Administratio ever get sick of lying? There must be a little bit of common decency in you; why not use it?
Edit: I really thought there would be those who support this legislation. Perhaps there is hope for us yet.
18 Oct 08
1 edit
Originally posted by whodeywhodey: the Dems are the ones proposing this rubbish.
Well I have to say that it is refreshing to see liberals like yourself be repulsed by the proposal. As for how much support it will have, only time will tell. The fact is, is that the dems are about to gain all three houses of government and the Dems are the ones proposing this rubbish.
Edit: I really thought there would be those who support this legislation. Perhaps there is hope for us yet.
As pointed out above, this is untrue. Why keep repeating an obvious lie when the article you cited to in no way supports this lie? Have you no shame?
18 Oct 08
Originally posted by whodeyHe is not saying that he is repulsed by the proposal. He is refuting your claim that the proposal was made by the Dems.
Well I have to say that it is refreshing to see liberals like yourself be repulsed by the proposal. As for how much support it will have, only time will tell. The fact is, is that the dems are about to gain all three houses of government and the Dems are the ones proposing this rubbish.
Edit: I really thought there would be those who support this legislation. Perhaps there is hope for us yet.
Please try to read before you comment on what is written.
18 Oct 08
Originally posted by howardgeeThe article states, "House educator and Labor Committee chairman George Miller, D-Calif., and Jim McDermott, D-Wash., chairman of the House Ways and Means Committe's Subcommittee on Income Security and Family Support, are looking at redirecting those tax breaks to a new system of guaranteed retirement accounts to which all workers would be obliged to contribute. A plan by Teresa Ghilarducci, professor of economic-policy anaylysis for Social Research in New York, contains elements that are being considered."
He is not saying that he is repulsed by the proposal. He is refuting your claim that the proposal was made by the Dems.
Please try to read before you comment on what is written.
Nuff said.
18 Oct 08
Originally posted by whodeyYou are being dishonest as usual. Your first post starts with "House Democrats" and then says "they are proposing" certain measures when, in fact, the article clearly states it is "Ms. Ghilarducci's plan" and Ms. Ghilarducci is NOT a House Democrat. Then your second post claims the same, untrue thing.
The article states, "House educator and Labor Committee chairman George Miller, D-Calif., and Jim McDermott, D-Wash., chairman of the House Ways and Means Committe's Subcommittee on Income Security and Family Support, are looking at redirecting those tax breaks to a new system of guaranteed retirement accounts to which all workers would be obliged to contribu ...[text shortened]... for Social Research in New York, contains elements that are being considered."
Nuff said.
You should simply offer a correction but being a partisan shill you refuse to. Shame on you.
18 Oct 08
Originally posted by whodeyThis will only exacerbate the Social Security crisis and cause those who have saved to start pulling their assets and put them into gold, which will only weaken the government's ability to steal from people via inflation, which will in turn cause the government to declare these people "gold hoarders" and "terrorists." If this foolish legislation passes, you might as well sell everything you own and move to Eastern Europe.
House Democrats are contemplating abolishing 401K tax breaks.
http://investmentnews.com/apps/pbcs.dll/article?AID=/20081012/REG/310139971
Apparently, they are using the excuse that the Stock Market is too risky a place to place retirement savings due to recent events. They are proposing that workers would be REQUIRED to invest 5% of their pay into a gu ...[text shortened]... he current system of providing tax breaks on 401K contributions would be eliminated.
Discuss.
19 Oct 08
Originally posted by no1marauderI don't see this as being dishonest. After all, democrats are looking at the plan to draw ideas from it. It would then seem to me that they are in agreement with the proposal, at least in some form. Who cares who came up with this ridiculous plan? What matters is that politicians are bringing it into the national spotlight for consideration.
You are being dishonest as usual. Your first post starts with "House Democrats" and then says "they are proposing" certain measures when, in fact, the article clearly states it is "Ms. Ghilarducci's plan" and Ms. Ghilarducci is NOT a House Democrat. Then your second post claims the same, untrue thing.
You should simply offer a correction but being a partisan shill you refuse to. Shame on you.
19 Oct 08
Originally posted by der schwarze RitterWhy Eastern Europe?
This will only exacerbate the Social Security crisis and cause those who have saved to start pulling their assets and put them into gold, which will only weaken the government's ability to steal from people via inflation, which will in turn cause the government to declare these people "gold hoarders" and "terrorists." If this foolish legislation passes, you might as well sell everything you own and move to Eastern Europe.
19 Oct 08
Originally posted by whodeyYou don't see it as being dishonest when you claim the Democrats are proposing something when they are not proposing it?🙄
I don't see this as being dishonest. After all, democrats are looking at the plan to draw ideas from it. It would then seem to me that they are in agreement with the proposal, at least in some form. Who cares who came up with this ridiculous plan? What matters is that politicians are bringing it into the national spotlight for consideration.
I'm not surprised; liars like you rarely admit that they lie.
19 Oct 08
Originally posted by no1marauderStop shifting the topic at hand by calling me a liar. Why not address why democrats are addressing this ludicrous proposal as a source for possible legislation? Then again, perhaps the less liberals say before election time the better, eh?
You don't see it as being dishonest when you claim the Democrats are proposing something when they are not proposing it?🙄
I'm not surprised; liars like you rarely admit that they lie.
19 Oct 08
1 edit
Originally posted by whodeyStop lying and I'll stop calling you a liar.
Stop shifting the topic at hand by calling me a liar. Why not address why democrats are addressing this ludicrous proposal as a source for possible legislation? Then again, perhaps the less liberals say before election time the better, eh?
From the article: No legislative proposals have been introduced and Congress is out of session until next year.
19 Oct 08
Originally posted by no1marauderYes counselor, kind of like saying "wipe Israel off the map" doesn't mean killing any Jews. You seem to be mighty adept at spinning the truth. You must think you're trying a case in Podunk Romania and you got your lying ass lawyer face on. We won't be fooled again. My grandfather's dried out balls-less sac is resting in some Swiss bank fault or a Nazi memorabilia museum and you think i'd believe your lying ass. Wipe us out tough guy. Reach down and pick up a gun, or do you have alligator arms. People like you, sperms and Sherzo are so blinded by hate you have to climb over a chain link fense to see the other side. Shove your lies and rotate.
You don't see it as being dishonest when you claim the Democrats are proposing something when they are not proposing it?🙄
I'm not surprised; liars like you rarely admit that they lie.
GRANNY.